Buy to shop for high definition televisions

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Reference no: EM131064106

Three consumers go to a Best Buy to shop for high- definition televisions (HDTVs). Let B indicate that one of the consumers buys an HDTV. Let D be that the consumer doesn't buy an HDTV. Assume these events are equally likely. Consider the following: (1) only two consumers buy an HDTV, (2) at most two consumers buy HDTVs, and (3) at least two consumers buy HDTVs.

a. Determine whether the outcomes 1, 2, and 3 are equally likely.b. Determine the total number of equally likely outcomes for the three shoppers.c. Define the events of interest in each of 1, 2, and 3.

To define the events of interest, list the possible outcomes in each of the following events: only two consumers buy an HDTV (E1)¦ at most two consumers buy HDTVs (E2)¦ at least two consumers buy HDTVs (E3)d. Determine the number of outcomes associated witheach of the events of interest. Use the classical probability assessment approach to assign probabilities to each of the possible outcomes and calculate the probabilities of the events.e. Compute the classical probabilities of each of the events in part d by using Equation.

Reference no: EM131064106

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